Mortgage Market Update

Sadaf Sultan

Saturday, October 31, 2026

Your other debts are part of your mortgage story

One of the questions I hear most is about approval odds and rates. But the real answer often depends on something borrowers don't always think about first.

National Mortgage Rates · October 29, 2026

Conventional 30-Year

7.15%

FHA 30-Year

7.04%

VA 30-Year

6.79%

Source: Optimal Blue daily mortgage indices via FRED

Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.

Debt & Borrowing

Why your other debts matter to your mortgage

When you apply for a mortgage, lenders look at more than just your income and credit score. They examine your debt-to-income ratio — basically, how much you already owe each month compared to what you earn. Credit cards, car loans, student debt, and personal lines of credit all factor in. The higher your existing payments, the less a lender may be willing to lend you, or the rates they offer may be higher. The good news: paying down other debts before applying (or before refinancing) can meaningfully improve your mortgage options. Even small reductions in monthly obligations can open doors to better terms. If you're thinking about buying soon or considering a refinance, it's worth taking a hard look at what you're carrying right now.

If you'd like to talk through where you stand, I'm here to help you map out the best next step.

Tip of the Week

Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.

2.	The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.

3.	There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Sadaf Sultan team any time and we'll walk you through your options.

Your Mortgage Advisor

Sadaf Sultan

sadaf@edgehomefinance.com

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